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It's official. One share of AAPL is now more valuable than the low-end iPad 2 with Wi-Fi (16GB).

On Monday, Apple stock surged past the psychologically appeasing $500 level, setting a new all-time high for the stock, which shows zero sign of cooling.

The traders I spoke with today at the Chicago Board of Trade say nobody was entering sell orders at $500 this afternoon because few traders and investors believe a price pullback is forthcoming. "This thing has a motor on it," one trader told me, adding that most traders are buying into the "street's" projection, which holds that AAPL may pop another $100 to $150 per share before any real sell-off takes place (assuming that even happens).

Shares of AAPL have popped 19% just since January 24th, when the company reported record earnings results for the December quarter. Keeping the stock price elevated are high expectations for the year ahead, which - at least for the short term - means big market optimism for the iPad 3, a product that may reach consumers within the next three to four weeks.

For the day, AAPL closed at $502.60 per share. That price point makes Apple significantly more valuable than the world's next most valuable company Exxon Mobil Corp. As MMi reported last week, Apple is also now worth more than two of its biggest tech rivals - Microsoft and Google - combined.

When I bought my first gen iPad, Apple stock was selling for 199.00 a share! Talk about a missed opportunity!

Bought mine @$135 just before the release of the first iPhone. While ppl were laughing at the thought of Apple being competitive in the mobile phone market, I was buying up stock Guess whos laughing now???